Treace Medical Concepts, Inc. (NASDAQ:TMCI) Receives Average Recommendation of “Reduce” from Brokerages

Shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) have been given an average rating of “Reduce” by the six brokerages that are covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $6.57.

A number of equities analysts have commented on the company. BTIG Research reaffirmed a “neutral” rating on shares of Treace Medical Concepts in a research note on Friday, November 7th. JPMorgan Chase & Co. reissued an “underweight” rating and set a $5.00 price objective (down previously from $8.00) on shares of Treace Medical Concepts in a research note on Friday, November 7th. Stifel Nicolaus decreased their target price on shares of Treace Medical Concepts from $5.00 to $3.00 and set a “hold” rating on the stock in a research note on Wednesday, January 7th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Treace Medical Concepts in a report on Wednesday, October 8th. Finally, UBS Group cut their price target on shares of Treace Medical Concepts from $6.50 to $5.85 and set a “neutral” rating on the stock in a report on Friday, November 7th.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. AQR Capital Management LLC purchased a new stake in Treace Medical Concepts in the 1st quarter worth approximately $491,000. Millennium Management LLC raised its holdings in shares of Treace Medical Concepts by 35.3% during the first quarter. Millennium Management LLC now owns 444,887 shares of the company’s stock valued at $3,733,000 after acquiring an additional 116,114 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Treace Medical Concepts by 1.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 249,169 shares of the company’s stock worth $1,540,000 after acquiring an additional 4,369 shares during the period. Farther Finance Advisors LLC bought a new stake in Treace Medical Concepts in the second quarter valued at $28,000. Finally, Gagnon Advisors LLC increased its position in Treace Medical Concepts by 69.5% during the 2nd quarter. Gagnon Advisors LLC now owns 830,270 shares of the company’s stock valued at $4,882,000 after purchasing an additional 340,379 shares during the period. Hedge funds and other institutional investors own 84.08% of the company’s stock.

Treace Medical Concepts Price Performance

Shares of NASDAQ:TMCI opened at $2.69 on Friday. The company has a quick ratio of 2.36, a current ratio of 3.37 and a debt-to-equity ratio of 0.60. The stock has a market cap of $171.41 million, a PE ratio of -3.36 and a beta of 0.74. The company’s fifty day moving average is $2.71 and its 200 day moving average is $5.09. Treace Medical Concepts has a 52 week low of $2.36 and a 52 week high of $10.79.

Treace Medical Concepts (NASDAQ:TMCI) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.02. The firm had revenue of $50.21 million for the quarter, compared to analysts’ expectations of $49.60 million. Treace Medical Concepts had a negative return on equity of 49.49% and a negative net margin of 22.89%. Research analysts anticipate that Treace Medical Concepts will post -0.92 earnings per share for the current year.

About Treace Medical Concepts

Treace Medical Concepts, Inc is a medical technology company specializing in the development and commercialization of innovative surgical solutions for foot and ankle conditions. The company’s flagship product, the Lapiplasty 3D Bunion Correction System, addresses the underlying joint instability that causes bunion deformity through a patented, multi-plane correction approach. The system combines proprietary instrumentation, fixation plates, and a comprehensive surgical protocol designed to improve patient outcomes and reduce recurrence rates.

The Lapiplasty System has received clearance from the U.S.